Chicago, Illinois - Our Net Lease Properties information is on a high priced Walgreen’s triple net leased property sold. This "NNN" triple net leased property is a newly constructed Walgreen's pharmacy store that is located within the Chicago metropolitan area. This triple net leased property is approximately 14,457 square feet and was finished with construction in 2009. This triple net leased property has the address of 1050 Waukegan Road, in Northbrook, Illinois. This net lease investment is blessed with the 60062 zip code, which is one of the most affluent suburbs of Chicago.
Northbrook is approximately 14.7 miles north of the Chicago O'Hare International Airport (ORD), which is located at 5600 Mannheim Road, in Chicago, Illinois. The premier area of Northbrook is is located less than 20 miles from downtown Chicago and is recognized as an upscale community. The North Shore suburbs of Chicago are stunningly beautiful spots to live and attract wealth. The North Shore communities range from south to north along the shore of one of the Great Lakes, Lake Michigan. These suburbs are Evanston, Wilmette, Kenilworth, Winnetka, Glencoe, Highland Park, Lake Forest and Lake Bluff. Some westward areas are Glenview and Northbrook. Some NNN Commercial Real Estate investors believe in Northbrook as a top investment spot.
Some reports have Northbrook ranking 21st on the list of the wealthiest zip codes in the United States for "Salaries and Wages". Residents within three miles of this net leased property earn an average household income of $160,123. One of the largest employers in Northbrook is Allstate Insurance headquarters. The Allstate Insurance headquarters employs more than 10,036 people. We have information on other major company headquarters located near our net leased property Walgreen's. Another major company headquarters nearby is the Walgreen’s Corporate Headquarters which is approximately 3.2 miles from the property that sold. The triple net lease property is also near Kraft Company Headquarters and Crate & Barrel's Company Headquarters.
The triple net leased property seller was The Boulder Group. A San Francisco-based private investor purchased this triple net lease investment for $9.93 million, which equates to approximately $684 per square-foot. The retail property with Walgreen's as tenant was marketed for a 6.9% Cap Rate. This triple net lease benefits from an irreplaceable location along one of the most heavily trafficked roads in Northbrook. Also having an Investment grade tenant with a long term net lease is truly beneficial for any NNN Investor or for a 1031 Exchange replacement property. The NNN Lease Investment sit on approximately 1.43 acres in Cook County, Illinois. The net lease investment sits on Waukegan Road which is a primary north-south thoroughfare that connects directly to the Edens Expressway Spur ramp.
The NNN Lease property is located at the premier northwest corner of the signalized intersection of Waukegan Road and Shermer Road. This signalized intersection sees approximately 39,443 (VPD) vehicles per day coming through. The Investment Property financing status is unknown at this time.
This NNN Leased Walgreens Tenants was one of the most recent developments in Northbrook in addition to Willow Festival. Willow Festival is the second largest retail shopping center in upscale Northbrook. The Retail Shopping Center, Willow Festival is located two miles south and is anchored by awesome tenants such as Lowes, Best Buy, and Whole Foods. There is also a Sheraton Hotel commercial real estate development. The Willow Festival retail shopping center is not the only reason to bring retail traffic to the Northbrook area.
There are major shopping destinations near the NNN Lease Walgreen's property that include The Glen Town Center and Northbrook Court. The Glen Town Center is an open air town center that is comprised of numerous retail attractions. Northbrook Court is a regional shopping mall that has upscale retail store. The Retail Shopping Mall, Northbrook Court is anchored by high-end stores, among them are Neiman Marcus, Macy' s, and Lord & Taylor. Northbrook Court also has an AMC movie theater for entertainment.
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